Summary by Futu AI
Xiaomi Group released its 2024 interim report on June 30, 2024, showing growth in both revenue and profit. During the reporting period, Xiaomi Group's total revenue reached 12,6832.0 million yuan, an increase of 29.6% compared to the same period last year. Net profit increased from 25,752.6 million yuan in the previous year to 35,223.9 million yuan, a growth of 36.8%. However, the company's AIoT business saw a slight decline in net profit during the same period, decreasing from 9,940.7 million yuan to 9,571.8 million yuan, a decrease of -3.7%. Despite this, the AIoT business revenue continued to grow, increasing from 1,268 million yuan in the previous year to 1,580 million yuan, a growth of 21.4%. Xiaomi Group introduced several new products during the reporting period, including the Xiaomi SU7 series smartphones and Xiaomi MIX Fold 4, contributing to the growth in company revenue. Additionally, the company made progress in esg and released an ESG report in May 2024. The report indicates that Xiaomi Group has set specific goals for reducing carbon emissions and plans to reduce emissions by 30% by 2030 and achieve 100% wind power usage by 2035.